Uganda: Museveni advises youth to develop saving culture, donates Shs260m

President Museveni has appealed to youth in the newly created Kassanda District to develop a saving culture through their small groups and use the money to start income generating activities.

Mr Museveni said government has done its part to support various youth groups in the country by extending to them financial assistance through the Youth Livelihood Programme and the onus is now on them to lift themselves out of poverty.

“It’s hard for an individual to raise the capital needed to run a business, but when you come together into groups and make little savings, you can be able to borrow this money amongst themselves at a low interest rate of 1 percent per month which money can be used to run businesses,” he said.

He gave an example of Centenary Bank which he said started as a Christian saving group, but has since grown into a fully-fledged commercial bank.

“This should be emulated by the youth other than lamenting about unemployment,” he added
The president made the remarks on Friday while handing over dummy cheques worth Shs260m to the various youth groups in Kassanda District.

He also officially closed a two-day youth skills training course at Kikandwa UMEA Primary School at Kikandwa Village in Kalwana Sub-county.

A total of 13 youth groups in the district will benefit from the donation with each getting Shs20m.

“This money which I am giving to you today [Friday] should be used as start-up capital or an additional income onto the little savings made by the members in the various associations.

It can be borrowed by the members of the associations at lower interest rates and later returned to benefit other members,” the president emphasized.

Mr Museveni also appealed to youth to dedicate most of their time to productive work rather than engaging in gambling and rioting.

Mr Hakim Kintu, the Kassanda District youth chairperson commended the president for supporting the youth groups in the area and promised that the funds will be put to good use.

By Daily Monitor

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